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Business EconomyPosted at: Apr 15 2016 5:59PM


Vedanta gets 'Letter of Award' for redevelopment of berths at Mormugao Port Trust

Panaji, Apr 15 (UNI) Vedanta, diversified natural resources company,
today received a ‘Letter of Award’ for redevelopment of Berth No 8,
9 and Barge Berths at Port of Mormugao, Goa (‘Project’) on design,
build, finance, operate and transfer (DBFOT) basis.
A statement from the company here said, the ‘Letter of Award’
was handed over to Vedanta’s Iron Ore business chief executive
officer Kishore Kumar by Mormugao Port Trust chairman I Jeyakumar in
the presence of Union Minister of Shipping, Transport and Highways
Nitin Gadkari at the Maritime India Summit (MIS) being held at
Mumbai.
Speaking on the occasion, Mr Gadkari said, ''Vedanta must use
this opportunity to upgrade the Mormugao Port and invest in inland
waterways so that it can be used for trade extensively.''
Mr Kumar said, ''We are excited about the project and the
opportunity to partner with the government of India. The
redevelopment of the Mormugao Port is essential for Goa as
modernisation and improvement of the port will bring a cascading of
larger vessels giving it the necessary impetus for enhancing and
stimulating growth of maritime traffic, enhanced efficiency and
create sustainable ports infrastructure.
''Vedanta, a diversified natural resources company with its
operations close to ports and has the domain expertise to address
the challenges in the maritime industry for the beneficiation of
resources, is the largest exporter of iron ore from Goa and this
project would provide logistic integration to our iron ore business
apart from handling other cargo.
''The ramp up of the Goan iron ore industry beyond 20 million
tons through this port will be a significant gateway for the mining
industry in the state giving them the added advantage of end-to-end
scale of operations in terms of cargo movement and consolidation.
This public-private partnership enables Vedanta to partner in the
growth story and vision of building a progressive India through
innovation,'' Mr Kumar added.
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